What is the overall importance of R&D to the cosmetics industry?
The cosmetics industry is one of innovation with a rapid turnover of products on the consumer market. Only a structured approach to R&D allows for the development of new cosmetic products that answer market needs while integrating the latest technological discoveries. In order to maintain good reactivity, as compared with international competitors (mainly in Japan, China, Korea and the United States), it is crucial to invest in research projects on an intermediate and long-term basis. LVMH Recherche, for instance, employs 250 researchers. Every year, we develop more than 650 products and publish more than 50 scientific papers or communications; in addition, we have a portfolio of more than 200 patents.
